Tax conditions and the Foreign Investment Review Board – a Trojan Horse?
Source: Victoria
Published Date: 4 May 2023
With increased scrutiny on Australian tax issues underpinning multinational investment, tax conditions in Foreign Investment Review Board (FIRB) applications can be pivotal in whether transactions proceed.
This session explored conditions that are imposed by the FIRB, how they interact with existing ATO reviews and audits, how information is shared between Treasury and the Commissioner of Taxation, whether FIRB tax conditions are a Trojan Horse for the ATO, and what approach should be taken in responding to them.
Points covered included:
- When can “standard tax conditions” be imposed?
- In what circumstances will “additional tax conditions” be imposed?
- Examples of “standard tax conditions” and “additional tax conditions”
- What role does the ATO have to play in respect of the tax conditions in FIRB applications? and
- How to deal with and respond to tax conditions when taxpayers are subjected to existing audits and reviews by the ATO.
Individual Session
Details
- Published By: Adrian Varrasso ATI, Carmen Mcelwain CTA
- Published On:4 May 2023
- Took place at:Grand Hyatt Melbourne
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